Amazon revealed its second quarter earnings results as the curtains closed on Thursday’s trading session, annihilating consensus estimates with a $5.07 earnings per share figure versus $2.50, but missed on revenue with $52.9 billion reported versus a consensus estimate of $53.41 billion.

It will be up to the markets to determine how the mixed results are viewed with the earnings per share beat possibly overshadowing the missed revenue. Amazon was up 3% in after hours trading as of 4:30 p.m. ET, but has now fallen to a loss of 0.81% as of 4:50 p.m. ET.

Related: Facebook Opens Down 20%, Halts Party for Tech ETFs

If Amazon surges, it could be a welcome sign for the NASDAQ, which shed 1% today as a result of Facebook losing almost 20% at the close of Thursday’s session. Amazon’s gain in EPS already has analysts deeming the online retailer as “the most prolific FAANG stock” with reference to Facebook, Amazon, Apple, Netflix and Google.

“Five or six of these stocks have led all of the market’s gains this year,” said Matthew Cheslock, an equity trader with Virtu Financial.

ETFs with Amazon Brace Themselves

Meanwhile, ETFs with the heaviest exposure to Amazon are bracing themselves for the market’s reaction to the earnings when the opening bell rings on Friday morning, such as ProShares Online Retail ETF (NYSEArca: ONLN), Consumer Discret Sel Sect SPDR ETF (NYSEArca: XLY) and Vanguard Consumer Discretionary ETF (NYSEArca: VCR)–ONLN (24.83% Amazon weighting), XLY (24.48% Amazon weighting) and VCR (23.44% Amazon weighting) could all stand to gain Friday morning.

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